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Navigating the Budding Entrepreneurial Journey: Embracing Self-Employment
August 23, 2023
Uncategorized
Shaveta- ABC Technologies
The Internet is swamped with tales, articles, and motivational videos that glorify the voyage of overcoming challenges and finally relishing the fruits of adversity. While these narratives seem thrilling, there is an aspect, which needs attention, that reminds us to tread carefully on this path. For all our budding aspirants, it is essential to probe into the pros and cons of adopting self-employment. In addition, the most important is to face the challenges and frustrations with dignity. Be aware that these are `part & parcel’ of this journey and are not insignificant.
Upsides of entrepreneurial pursuits :
The following are the major perks of being a businessman:
You can rejoice in liberation :
When you are your boss, then rigid rules will never be an obstacle, and by and large, you can materialize your goals. You can transform your productive ideas into tangible goods and services. You will have the potential to transmute traditional corporate regulation. Nonetheless, this uniqueness will bring boundless monetary rewards.
Flexibility and ease :
Most people love flexibility which will never be there in a corporate routine of nine to five. You can enjoy the flexibility of time and space if you are the owner. Being a business owner calms your life. Indeed, you can manage to have a perfect work-life balance. There is an added advantage, that you may work till late at night if it is required. So, your accountability is just confined to yourself, not anyone else. You can avoid stress and overthinking, which is the requirement for sound mental health.
Sustained Longevity :
“You’re the boss. Nobody can fire you! Isn’t it a great feeling?”
Undoubtedly, this seems an exuberant idea that even if you are not in the mood to work, your boss will not fire you. You will be able to reap the long-term perks. Consistency in business is a crucial factor. You will master the skills steadily and will be able to generate passive income without working hard for many years. When you work for someone, you need to prove your mettle now and then. Certainly, accountability to others is absent when we compare it with the responsibility of a business owner.
Setbacks of being an Entrepreneur:
Financial limitation :
There is a hell of competition around. Big players are always ready to gulp the smaller ones. Ironically, there is a continuous fight to strive. Believe me! It is not as rosy, as it seems. There are times when you are exhausted and lose hope. Your assets are limited, and your liabilities are more. The time comes when you forget about the lesson of-`optimum use of resources.
Blow of Miss-fortune :
Bearing adversity is not everybody`s cup of tea. You can sip success only if you gulp the venom of miss-fortune and risk. This path is not as fascinating as the narratives are. Thus such a blow can prove heartbreaking. Some start-ups hardly reach their expansion stage, and they vanish before reaching their peak.
Wearing Multiple Hats :
As a business person, you may have to fit into different roles. You have to monitor everybody`s work. Here, to know a bit will not work! You have to have rich knowledge of your product, market, and human resources. You ought to be the jack of all trades if you are a master of none. This heavy workload can lead to burnout, and thus one may fail to maintain a healthy work-life balance.
Tackling short-term and long-term enterprising frustrations:
Remember! Every cloud has a `silver lining’
Trust! You can eradicate the clouds of muted growth. The light of hope will help you gain a win-win edge if you believe in yourself. Keeping hope alive is essential on gloomy and darker days. Have patience! Things will work one day if you are on an apt path. Your product will reach millions and billions if you use modern technology and tools effectively. These tools like social media, SEO, and digital marketing have great embryonic- use effectively.
Take Calculative Moves :
` Smart people win’ will be made true when moves are calculated. You need to take small steps beforehand, and only jump when you know it is the right time to jump’. Some people blindly take risks, this makes their life miserable. Know the market and risk factors! You need to remind yourself every time that you are not the only player, others are playing to win too. The competition is always high, be cautious, about your steps.
Become a Jack of all trades:
When you can not master every skill, you need to hire people for help. As an entrepreneur, your sole responsibility is to investigate that the whole team works for your goals. You should walk the extra mile to accomplish your short-term and long-term objectives. Learn various skills, learn from talented individuals, and read more books and literature related to your products and services. Bring novelty and cater public with a new approach.
Networking will help:
Even if you are an introvert, you should increase your networking skills. Attend and conduct workshops, motivate your employees, and find new investors. All this will prove a boon for your business. You can even utilize your family links and become the master of communication. Keep your interactions with people crispy and brief. People must start loving your product, convince them well.
In brief, one phrase can say it all“ never give up, keep moving and keep your learning instinct intact.
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